10x Genomics (NASDAQ:TXG) Now Covered by Analysts at Piper Sandler

Key Points

• Analysts at Piper Sandler have initiated coverage of 10x Genomics (NASDAQ:TXG) with a "neutral" rating and a price target of $15.00, suggesting a potential upside of 19.14% from its previous close.
• Other brokerage firms have varied ratings on the stock, with Morgan Stanley maintaining an "overweight" rating and lowering the price target from $18.00 to $17.00, while Zacks Research downgraded it from "strong buy" to "hold."
• 10x Genomics reported better-than-expected quarterly earnings, with a revenue of $172.91 million, surpassing estimates, and a significant EPS of $0.28 compared to a consensus estimate of ($0.35).

Stock analysts at Piper Sandler began coverage on shares of 10x Genomics (NASDAQ:TXG - Get Free Report) in a report issued on Thursday,Benzinga reports. The firm set a "neutral" rating and a $15.00 price target on the stock. Piper Sandler's target price indicates a potential upside of 19.14% from the company's previous close.

A number of other brokerages also recently weighed in on TXG. Morgan Stanley cut their price target on shares of 10x Genomics from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Zacks Research cut shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $14.00 target price on shares of 10x Genomics and gave the company a "hold" rating in a research note on Friday, August 8th. Bank of America raised their target price on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, UBS Group raised their price target on 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $13.65.

10x Genomics Stock Performance

TXG opened at $12.59 on Thursday. The firm's 50-day simple moving average is $13.22 and its 200-day simple moving average is $10.79. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $24.38. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -17.99 and a beta of 2.00.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.63. 10x Genomics had a negative net margin of 13.13% and a negative return on equity of 12.88%. The firm had revenue of $172.91 million for the quarter, compared to analyst estimates of $139.36 million. During the same quarter in the prior year, the firm earned ($0.32) EPS. The company's revenue was up 12.9% on a year-over-year basis. 10x Genomics has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insider Transactions at 10x Genomics

In related news, CFO Adam Taich sold 22,315 shares of 10x Genomics stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $307,723.85. Following the transaction, the chief financial officer directly owned 309,273 shares of the company's stock, valued at $4,264,874.67. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 9,348 shares of 10x Genomics stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $128,908.92. Following the completion of the transaction, the chief executive officer directly owned 945,892 shares in the company, valued at approximately $13,043,850.68. This represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,149 shares of company stock worth $539,865. Insiders own 9.39% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TXG. Stifel Financial Corp grew its stake in shares of 10x Genomics by 28.3% during the 4th quarter. Stifel Financial Corp now owns 20,997 shares of the company's stock worth $302,000 after acquiring an additional 4,628 shares during the period. Cetera Investment Advisers grew its stake in shares of 10x Genomics by 22.7% during the 4th quarter. Cetera Investment Advisers now owns 19,898 shares of the company's stock worth $286,000 after acquiring an additional 3,679 shares during the period. Deutsche Bank AG grew its stake in shares of 10x Genomics by 35.3% during the 4th quarter. Deutsche Bank AG now owns 10,190 shares of the company's stock worth $146,000 after acquiring an additional 2,657 shares during the period. Gotham Asset Management LLC bought a new position in shares of 10x Genomics during the 4th quarter worth $264,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of 10x Genomics during the 4th quarter worth $450,000. Institutional investors own 84.68% of the company's stock.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.

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